Airway (AWM) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Airway PLN 0.34, price PLN 0.26, upside +30.3%, quality 14 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range 0.2100 PLN – 1.76 PLN · fair‑value band 0.2380 PLN – 0.4420 PLN · the 0.2610 PLN price screens below the 0.3400 PLN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.
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Airway Medix S.A. engages in the research, development, and commercialization of medical devices for the mechanically ventilated patients in the intensive care units and for the patients in life-threatening conditions in the anaesthesiology departments in Poland and internationally.
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Airway Medix S.A. engages in the research, development, and commercialization of medical devices for the mechanically ventilated patients in the intensive care units and for the patients in life-threatening conditions in the anaesthesiology departments in Poland and internationally. It offers Closed Suction System, a dual operation of balloon swiping and suction; B-Oral Care for intubated hospital patients; Hyper Form, a ventilation laryngeal masks and tube cuffs; and Cuff Pressure Regulator, single-patient use device that provides continuous regulation of pressure in inflatable ventilation tube cuffs. Airway Medix S.A. was founded in 2010 and is based in Warsaw, Poland.
Stock analysis
Airway (AWM) currently trades at 0.2610 PLN, while our model-based Fair Value estimate is 0.3400 PLN, implying the stock looks roughly 23.2% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 0.4200 PLN per share, and 6 of the 6 models we run sit above the 0.2610 PLN price.
Bear case: the Earnings-Based group reads lowest at 0.2800 PLN, and 0 of the 6 models stay below the price. Evidence for this calculation is low.
Scenario range: 0.2380 PLN (bear) to 0.4420 PLN (bull), the price of 0.2610 PLN sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 14/100 (below-average quality), in the Healthcare sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Airway reported revenue of 4.0K PLN in FY2025 versus 6.0K PLN in FY2021, a compound −9.6%/yr. Reported net income was 1.7M PLN in FY2025.
Key figures
Market cap 34.1M PLN (≈ $8.9M) · P/E ratio 13.1 · EPS (TTM) 0.0200 PLN · Net margin 1,437% · Return on equity 11.3% · Return on assets (EBIT) −71.1% · Operating margin −1,006% · Revenue growth (YoY) −63.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 35 out of 100 (low confidence).
What moves the price
The share trades about 36% below its 52-week high and 5% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −12% fair-value upside, at 30%, AWM screens cheaper than that median.
Fair Value models
Bear 0.2380 PLNFair Value 0.3400 PLNBull 0.4420 PLN
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (0.0147 PLN per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.5/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−66.7%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−65.2%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−56.5%
Start year 2020 (pandemic)
Revenue growth 9 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−25.6%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−879.8% (2020) → −147,775.0% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no profitable base year
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Medical Instruments & Supplies · 203 stocks
Beats the industry median on 2/6 measures
Overall it trails its industry peers.
Valuation
Quality Score15 · Bottom 25%
Fair Value upside+26% · Top 25%
Profitability
Return on equity (TTM)Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Return on assets−56% · Bottom 25%
Growth and dividend
Revenue growth−64% · Bottom 25%
Balance sheet
Debt / equityNegative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Valuation Multiplesvs Medical Instruments & Supplies median · lower = cheaper
P/E (TTM)13.1× · Cheapest 25%
P/BNegative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
P/S (TTM)99.58× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)74· sector 17
FUTURE (revenue growth)0· sector 31
PAST (return on equity)0· sector 25
HEALTH (low debt)0· sector 96
DIVIDEND (yield)0· sector 33
PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Airway Fair Value". https://www.fairvalue-calculator.com/stock/AWM
Frequently asked questions
Is Airway (AWM) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of 0.3400 PLN versus a price of 0.2610 PLN, about +30% upside (undervalued).
What is the fair value of AWM?
Our model-based fair value for Airway is 0.3400 PLN (as of Sep 23, 2026), built from audited fundamentals. The current price: 0.2610 PLN.
What is the quality score of AWM?
Airway has a Quality Score of 14/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Airway (AWM)?
Our model-based price target is the fair value of 0.3400 PLN (as of Sep 23, 2026) from 6 valuation models. Cautious scenario 0.2380 PLN, optimistic scenario 0.4420 PLN. It is a calculation from audited fundamentals, not an analyst target.
What is the Airway stock forecast for 2026?
Our models put fair value at 0.3400 PLN, about +30% upside versus a price of 0.2610 PLN (undervalued). Cautious scenario 0.2380 PLN, optimistic scenario 0.4420 PLN. The calculation is refreshed regularly with new filings.
What is the intrinsic value of Airway (AWM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Airway it is 0.3400 PLN per share (as of Sep 23, 2026), against a price of 0.2610 PLN. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Airway stock overvalued or undervalued in 2026?
As of Sep 23, 2026, AWM trades below its calculated fair value: price 0.2610 PLN, fair value 0.3400 PLN, a gap of about +30% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of AWM?
No. The price is what the market pays today (0.2610 PLN); the fair value is what the company's own numbers justify (0.3400 PLN). For Airway the two are 0.0790 PLN per share apart. That gap is exactly why we show both numbers side by side.
How much is Airway worth?
The market values Airway at about 34.1M PLN (market capitalisation, as of Sep 23, 2026). Per share that is 0.2610 PLN; our models calculate a fair value of 0.3400 PLN per share.
What do the bullish and bearish scenarios say about AWM?
Our models span a range for Airway: cautious scenario 0.2380 PLN, base 0.3400 PLN, optimistic 0.4420 PLN per share (as of Sep 23, 2026, price 0.2610 PLN). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of AWM?
Airway trades at a price-to-earnings ratio of 13.1 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 0.3400 PLN is built from several models across several years. Other multiples: P/S 99.6.
How solid is the balance sheet of Airway (AWM)?
Balance-sheet figures for Airway (as of Sep 23, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 14/100, which measures business quality independently of the share price.
How far is AWM from its 52-week high?
Airway trades at 0.2610 PLN, about 36% below its 52-week high of 0.4055 PLN and 5% above the low of 0.2485 PLN (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 0.3400 PLN is for.
Which stocks are comparable to Airway?
From the same area (Healthcare) we also value Intuitive Surgical, Inc, EssilorLuxottica Société anonyme, Medline Inc, Becton, Dickinson and Company, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Airway stock attractive at the current price?
The data as of Sep 23, 2026: price 0.2610 PLN, calculated fair value 0.3400 PLN (+30%), Quality Score 14/100, from 6 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of AWM calculated?
We run Airway through 6 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 0.3400 PLN, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0 % above its aggregate fair value. Airway currently trades 30 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Airway (AWM)?
The closing price on Sep 24, 2026 was 0.2610 PLN. Our model-based fair value is 0.3400 PLN, about +30% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Airway right now?
The large discount to fair value meets weak quality (14/100). That raises the risk this is a value trap rather than a bargain. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (0.2380 PLN to 0.4420 PLN) leaves room in how you read the outcome.
Key figures of Airway
How large is the market capitalisation of Airway (AWM)?
The market capitalisation of Airway is 34.1M PLN (≈ $8.9M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What are the earnings per share of Airway (AWM)?
Earnings per share at Airway are 0.0200 PLN (price ÷ EPS = P/E 13.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Airway (AWM)?
The net margin of Airway is 1,437% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Airway (AWM)?
The return on equity (ROE) of Airway is 11.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Airway (AWM)?
On an EBIT basis the return on assets of Airway is −71.1% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Airway (AWM)?
The operating margin of Airway is −1,006% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Airway (AWM)?
Revenue at Airway is growing −63.6% versus a year earlier (3y avg −65.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Airway (AWM) generate?
The free cash flow of Airway is −3.6M PLN (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Airway (AWM) carry?
The net debt of Airway is 12.7M PLN (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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